Karnataka High Court Reserves Judgment on NMDC Donimalai Case Hearing
According to the updates received, the NMDC Donimalai case has heard by the Karnataka High Court today and it has reserved the Judgement till next hearing for which date was not confirmed till the time of publishing this report.
Today (i.e 26th Feb 2019) court heard the case and the final remarks have been kept by both the parties before Karnataka High court bench.
There have been a series of hearings going on in the court on Jan 10, 23, 28 and Feb 11, 14, 16, and 25 Feb’19 2019.
Iron ore operations are on hold at NMDC’s Donimalai mine, which was renewed lease on 3rd Nov’18 for the next 20 years. But the State Govt. put the additional condition to pay 80% premium on iron ore sale value from Donimalai to the Karnataka state Govt. NMDC was in negotiation with the Govt of Karnataka over its decision to impose an 80% premium on iron ore sales from Donimalai. As the company’s earlier license did not include the premium.
NMDC Donimalai has EC limit of 7 MnT p.a. and produces around 6-6.5 MnT iron ore annually.
source: SteelMint
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